Cross Rivers Reaches Out-Of-Court Settlement To Re-acquire Rubber Estates
The Cross River State Executive Council has approved the terms of an out-of-court settlement that will enable the government to re-acquire the defunct rubber estates formerly managed by Enghaut Industries Limited.
The resolution was reached at the exco meeting held on Thursday, April 17, 2025, during which the council formally ratified the terms of settlement in Suit No. HC/162/2025—Enghaut Industries Limited vs. the Attorney General of Cross River State and another.
The agreement paves way for the state to regain ownership of rubber plantation assets previously belonging to the defunct Cross River Estates Limited (CREL), covering approximately 22,000 hectares across Akamkpa, Biase, and Yakurr Local Government Areas.
This move aligns with Governor Bassey Otu’s commitment to reclaim and revitalize state-owned assets for the greater benefit of Cross Riverians. The state had revoked the Certificate of Occupancy granted to Enghaut Industries on June 14, 2024, citing the company’s failure to manage the estates effectively.
The government argued that poor management had led to significant degradation and the loss of the estate’s status as a leading rubber production hub in Nigeria—prompting legal action from Enghaut.
Speaking during the meeting, Governor Otu expressed satisfaction with the amicable resolution, noting that it opens the door for fresh investment and economic revitalization.
“With this settlement, we can now explore partnerships with serious investors to unlock the full potential of the rubber estates, create jobs, and develop a thriving value chain that will benefit the people of Cross River State,” the governor stated.
The meeting also marked Governor Otu’s first official Exco session after returning from a three-week vacation. He commended his deputy, Peter Odey, for ably steering the affairs of the state during his absence, and appreciated the Executive Council for their collective support and stability during the period.
Otu further announced that three key roads have been prioritized for immediate rehabilitation as part of the state’s infrastructure renewal programme. These include the Boki East-West Road, the Okpoma–Mfum Junction Road, and the John Okpa Road in Obubra.
He described the late John Okpa, a former Deputy Governor, as a “pillar of democracy” whose legacy deserves continued recognition through tangible development efforts.
Highlighting the economic importance of Ikom as a major border town, Governor Otu disclosed plans to expand the town’s infrastructure by establishing an international market and a modern motor park.
“The cross-border trade between Nigeria and Cameroon, along with Ikom’s role as a hub for agricultural produce, auto parts, and residential growth, makes it a critical point of focus. We are determined to provide the necessary support to match its potential,” he said.
The meeting was attended by the Deputy Governor, RmPeter Odey; the Secretary to the State Government, Prof. Anthony Owan-Enoh; the Head of Service, Dr. Innocent Eteng; the Chief of Staff, Hon. Emmanuel Ironbar; and members of the State Executive Council.
Cross Rivers Reaches Out-Of-Court Settlement To Re-acquire Rubber Estates is first published on The Whistler Newspaper
